PIAB report shows 'insurance reforms are working'

Responding to the Personal Injuries Assessment Board report, Alliance for Insurance Reform chief says firms and community groups ought to see reduced premiums

The report shows that, last year, the Personal Injuries Assessment Board dealt with the lowest total value of claims in the last 16 years. Stock picture 

Reforms of the insurance industry are working but scrutiny needs to be extended to a wider range of settlements, according to Brian Hanley, the head of the business campaigning group, the Alliance for Insurance Reform.

Mr Hanley said the annual report from the Personal Injuries Assessment Board (PIAB) showed the value of awards through the board had fallen sharply, but that insurers should pass on in full their savings to businesses.